Morgan Stanley downgraded shares of Ashtead Group (LON:AHT) to an equal weight rating in a report published on Wednesday, ThisIsMoney.Co.Uk reports.
Other research analysts have also issued research reports about the company. Barclays reaffirmed a top pick rating and set a GBX 3,250 ($42.47) price target on shares of in a research report on Wednesday, June 19th. Deutsche Bank cut their price target on from GBX 295 ($3.85) to GBX 285 ($3.72) and set a buy rating on the stock in a research report on Wednesday, June 19th. Peel Hunt reaffirmed a buy rating on shares of GB Group in a research report on Monday, June 17th. Jefferies Financial Group reaffirmed a hold rating on shares of COMPASS GRP PLC/S in a research report on Tuesday, April 9th. Finally, Liberum Capital lifted their price target on Sylvania Platinum from GBX 35 ($0.46) to GBX 68 ($0.89) and gave the stock a buy rating in a research report on Thursday, April 18th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of GBX 2,388.18 ($31.21).
AHT traded down GBX 1 ($0.01) during trading on Wednesday, hitting GBX 2,241 ($29.28). 1,031,511 shares of the stock were exchanged, compared to its average volume of 2,210,000. The company has a market cap of $10.43 billion and a price-to-earnings ratio of 13.55. Ashtead Group has a 1-year low of GBX 1,572.50 ($20.55) and a 1-year high of GBX 2,461 ($32.16). The company’s fifty day simple moving average is GBX 2,079.71. The company has a quick ratio of 1.27, a current ratio of 1.39 and a debt-to-equity ratio of 134.18.
The business also recently announced a dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be issued a GBX 33.50 ($0.44) dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a dividend yield of 1.61%. This is a positive change from Ashtead Group’s previous dividend of $6.50. Ashtead Group’s payout ratio is presently 0.24%.
In related news, insider Paul Walker bought 14,000 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were acquired at an average price of GBX 2,163 ($28.26) per share, with a total value of £302,820 ($395,687.97). Also, insider Brendan Horgan sold 46,792 shares of the business’s stock in a transaction that occurred on Thursday, July 4th. The shares were sold at an average price of GBX 2,320 ($30.31), for a total value of £1,085,574.40 ($1,418,495.23).
Ashtead Group Company Profile
Ashtead Group plc, together with its subsidiaries, rents a range of construction and industrial equipment. It offers equipment for use in lifting, powering, generation, moving, digging, compacting, drilling, supporting, scrubbing, pumping, directing, heating, and ventilating works. The company provides various types of construction equipment for non-residential construction markets; and facilities management equipment for the maintenance and repair of facilities.
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